Financial News
House passes $1.9 trillion pandemic relief billExternal Link

The U.S. House early Saturday passed the Biden administration's $1.9 trillion pandemic relief package by a vote of 219-212. All Republican members voting opposed passage, and two Democrats joined them in voting against the bill. The bill now heads to the Senate, where the nonpartisan parliamentarian ruled Thursday that a provision increasing the federal wage to $15 an hour could not be included in legislation passed via the budget reconciliation process, which is not subject to the filibuster and thus can be passed by a simple majority, introducing additional complexity in an evenly divided chamber where Democrats are likely reliant on the tie-breaking vote of Vice President Kamala Harris.

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Sat, 27 Feb 2021 07:09:43 GMT
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FBI has pinpointed possible suspect in killing of Capitol Police's Sicknick: reportExternal Link

An assailant has been pinpointed as prospectively responsible for the death of Capitol Police officer Brian Sicknick, according to a New York Times report, citing two law-enforcement officials described as having been briefed on the investigation. The FBI inquiry has explored the possibility that Sicknick, who collapsed after the storming of the Capitol by Trump supporters seeking to disrupt the certification of President Biden's electoral victory and died the following day, was adversely affected by an irritant such as bear spray that members of the mob were said to have deployed, according to the Times report. Investigators reviewing video evidence of that day's events are reported to have narrowed their suspicion to a single person, whom the Times reported has not been identified by name. Two additional officers engaged in the Jan. 6 defense of the Capitol died by reported suicides in immediately subsequent days. Sicknick was 42 and an Air National Guard veteran who had served in Saudi Arabia and Kyrgyzstan, joining the Capitol Police in 2008.

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Sat, 27 Feb 2021 03:51:05 GMT
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FDA tells J&J it's working on an emergency authorization for its COVID-19 vaccine External Link

Shares of Johnson & Johnson gained 1.3% in after-hours trading on Friday after the Food and Drug Administration said it has contacted the company to say it is "rapidly" working toward issuing an emergency use authorization for J&J's COVID-19 vaccine candidate. The FDA statement was sent out Friday evening about an hour after an advisory committee voted unanimously that the benefits of the experimental vaccine outweigh the risks. "The agency has also notified our federal partners involved in vaccine allocation and distribution so they can execute their plans for timely vaccine distribution," FDA officials said in the statement. J&J said earlier this week that it plans to deliver 20 million doses of its single-dose vaccine in the U.S. by the end of March. J&J's stock is up 10.7% over the past 12 months, while the broader S&P 500 has gained 22.4%.

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Fri, 26 Feb 2021 23:40:10 GMT
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FDA committee votes unanimously, says benefits of J&J's COVID-19 vaccine outweigh the risksExternal Link

Shares of Johnson & Johnson were up 1.3% in after-hours trading on Friday after a Food and Drug Administration advisory committee vote 22-0 in favor of the regulator authorizing the company's COVID-19 vaccine candidate. The FDA is not required to follow the advice of the committee but often does. The single-dose vaccine had an overall efficacy rate of about 66% in the Phase 3 clinical trial, and the U.S. arm of the trial showed an efficacy rate of about 72% and of 85% when protecting against severe or critical disease. The most common adverse events were pain at the injection site and fatigue. The trial was conducted in the U.S., South Africa, and several Central and South American countries. If the FDA moves forward with authorizing the experimental vaccine, it will be the third COVID-19 vaccine to be available in the U.S. - and the first to require only one dose. Both the Moderna Inc. and BioNTech SE and Pfizer Inc.'s vaccines, which were separately authorized in December, require two doses spaced several weeks apart. J&J's stock has gained 10.7% over the past 12 months, while the broader S&P 500 is up 22.4%

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Fri, 26 Feb 2021 22:08:48 GMT
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Dow ends around 475 points lower as Nasdaq bounces following worst fall since OctoberExternal Link

Stocks ended mostly lower Friday, dipping toward session lows in the final minutes of trading. Tech-related shares bounced after a rout sparked by a sharp rise in Treasury yields, but still suffered weekly losses. The Dow Jones Industrial Average ended with a loss of around 475 points, or 1.5%, near 30,928, according to preliminary figures. The blue-chip gauge ended the week down 1.8%, its fall cushioned by a rotation into shares of companies more sensitive to the economic cycle. The S&P 500 gave up a modest gain ahead of the closing bell, finishing with a loss of around 18 points, or 0.5%, near 3,811 and leaving it with a weekly decline of 2.5%. The tech-heavy Nasdaq Composite clung to a gain of around 73 points, or 0.6%, to close Friday near 13,332, after suffering its largest one-day percentage fall since October in the previous session. The Nasdaq suffered a 4.9% weekly fall.

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Fri, 26 Feb 2021 21:04:59 GMT
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